The nifty 50 fell 1.14 per cent, while the sensex sufred a loss of 1.30 per cent for the week ended June 13. The nifty bank index fell 1.9 per cent last week.
In the nifty index, stocks such as eternal, adani ports, Titan company, Power Grid, Tata Steel, Tata Consumer, Mahindra and Mahindra and Mahindra and Mahindra, Trent, HDFC BANK BANK BANK BANK BANK BANK BANK BANK BANK BANK BANK BANK BANK BANK BANK and Hind Unilever Fell 3-5 per cent during the week.
“Markets Remained Under Pressure and Declined by Over a per cent during the week, weighed down by waiting geopolitical tensions and mixed global cues. After starting the week on a subduedz Gradually Drifted Lower Amid Increased Volativity and Finally Settled Near the Week’s Low, “Ajit Mishra, Svp of Research at Religare Broking, Observed.
Stock Market Next Week Prediction
Heightened geopolitical tensions may keep the market Volatile Next Week. The upcoming Us Federal Reserve Policy Decision, The Progress of the Monsoon, and Macro Prints will also also also influence market
“Looking ahead, markets are likely to remn valatil amid ongoing Geopolitical Uncertainty and Crucial Central Bank Meetings. The Us Federal Reserve’s Upcoming Policy Decision will be called Market Participants Look For Clarity on the Timing and Magnitude of Potential Rate Cuts, Especially in Light of Mixed Economic Signals. Crude Oil Price Trends, WPI Inflation Data, and Fii Activity, “said Mishra.
On the technical front, the nifty 50 has fallen beLow 25,000, exhibiting weakness on the technical charts.
According to amol athawale, VP of Technical Research at Kotak Security, is larGly negative.
Athawale believes that as long as the market remain below the 20-day sma or 24,850, Weak Sentiment will likely continue.
“On the downside, the market could retet the level of 24,500, a breach of which could accept seling pressure, potentially dragging the index to the 50-day sma around 24,300. 24,300. 24,750 clock extends the pullback move up to 24,850, even further pushing the index toward 24,950–25,000, “said athawale.
For Bank Nifty, Athawale Sees a Key Support Zone Between 55,000 and 55,200.
Above this range, Bank Nifty Cold Bounce Back Toward 56,100–56,300. Convercely, a Fall Bell 55,000 Increases The Likelihood of Testing The 50-Day SMA or 54,500, Said athawale.
Mishra pointed out that the nifty 50 has re-entered its consolidation range, and a decisive movie beyond the 24,400–25,200 zone will be required to set out the next degrade.
Mishra said that in case of a breakdown, the 24,000 level is expected to act as crucial support, whereas a breakout above 25,200 count trigger a sustained rally toward the 25,600 mark.
Nifty bank has failed to hold its breakout Above The 56,000 Mark and is now expected to find support in the 54,000-54,600 range. A Decisive Move Above 56,500 will be essential to Revive Momentum in the Financial Space, Mishra Said.
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